Phnom penh: Iran's currency plunged to a record low on the open market Monday, hours before the U.S. announcement of a new wave of sanctions aimed at further isolating Tehran.

According to Agence Kampuchea Presse, the rial fell to 2.02 million against the U.S. dollar as trading opened on currency markets, while the official exchange rate set by Iran's Central Bank stood at around 1.5 million rials per dollar. The currency, which was already under pressure before the joint U.S.-Israeli attacks on February 28, has continued to hit new lows as nearly six months of conflict have placed further strain on Iran's economy.

U.S. Treasury Secretary Scott Bessent on Monday warned of an "economic D-Day" for Iran, announcing what he described as "an economic onslaught against Iran's financial connections around the globe." The new sanctions target five key sectors: digital assets, technology, gold, aviation, and shipping, according to the Treasury Department.